Algorithm Assurance: Auditing Applications of Artificial Intelligence

Alexander Boer (), Léon Beer () and Frank Praat ()
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Alexander Boer: KPMG
Léon Beer: KPMG
Frank Praat: KPMG

A chapter in Advanced Digital Auditing, 2023, pp 149-183 from Springer

Abstract: Abstract Algorithm assurance is a specific form of IT assurance that supports risk management and control on applications of risky algorithms in products and in organizations. These algorithms will often be characterized in organizations as applications of Artificial Intelligence (AI), as advanced analytics, or—simply—as predictive models. The aim of this chapter is to introduce the concept of algorithm assurance, to give some background on the relevance and importance of algorithm assurance, and to prepare the auditor for the basic skills needed to organize and execute an algorithm audit. In this chapter we will introduce the algorithm assurance engagement as a specific type of IT audit. After a general discussion of the background of algorithm assurance and the type of IT applications we are concerned with in this type of engagement, we will extensively discuss the scope of an algorithm assurance engagement, how to approach the risk assessment that should take place initially, how to set up and audit plan, and the audit techniques and tools that play a role in an audit plan.

Keywords: Algorithm assurance; Artificial Intelligence; Auditing; Machine learning (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prochp:978-3-031-11089-4_7

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DOI: 10.1007/978-3-031-11089-4_7

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